FICO (legal name: Fair Isaac Corporation), originally Fair, Isaac and Company, is a

data analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It ...

company based in

Bozeman, Montana Bozeman is a city and the county seat of Gallatin County, Montana, United States. Located in southwest Montana, the 2020 census put Bozeman's population at 53,293, making it the fourth-largest city in Montana. It is the principal city of ...

, focused on

credit scoring A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report, information typically sourced from credit b ...

services. It was founded by Bill Fair and

Earl Isaac Earl Judson Isaac (7 August 1921 – 12 December 1983) founded Fair, Isaac and Company along with friend William R. "Bill" Fair in 1956. They began the operation in a small studio apartment on Lincoln Avenue in San Rafael, California. Earl ...

in 1956. Its

FICO score A credit score is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. It is an inexpensive and main alternative to other forms of consumer loan underwriting. Lenders, ...

, a measure of consumer credit risk, has become a fixture of consumer lending in the United States. In 2013,

lenders A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property ...

purchased more than 10 billion FICO scores and about 30 million American consumers accessed their scores themselves. The company reported a revenue of $1.29 billion dollars for the fiscal year of 2020.

History

FICO was founded in 1956 as Fair, Isaac and Company by engineer William R. "Bill" Fair and mathematician Earl Judson Isaac. The two met while working at the

Stanford Research Institute SRI International (SRI) is an American nonprofit organization, nonprofit scientific research, scientific research institute and organization headquartered in Menlo Park, California. The trustees of Stanford University established SRI in 1946 as ...

Menlo Park, California Menlo Park is a city at the eastern edge of San Mateo County within the San Francisco Bay Area of California in the United States. It is bordered by San Francisco Bay on the north and east; East Palo Alto, Palo Alto, and Stanford to the so ...

. Selling its first credit scoring system two years after the company's creation,About Us FICO
nbsp;— FICO official Web site FICO pitched its system to fifty American

. FICO went

public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichk ...

in 1986 and is traded on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

. The company debuted its first general-purpose FICO score in 1989. FICO scores are based on credit reports and "base" FICO scores range from 300 to 850, while industry-specific scores range from 250 to 900. Lenders use the scores to gauge a potential borrower's creditworthiness.

Fannie Mae The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the N ...

and

Freddie Mac The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is a publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.San Rafael, California San Rafael ( ; Spanish for " St. Raphael", ) is a city and the county seat of Marin County, California, United States. The city is located in the North Bay region of the San Francisco Bay Area. As of the 2020 U.S. census, the city's populatio ...

, FICO moved its headquarters to Minneapolis, Minnesota, in 2004, a few years after Minnesota resident Thomas Grudnowski took over as CEO. In 2013, it moved its headquarters to San Jose, California, a year after CEO William Lansing joined. In 2016 it opened an office in Bozeman, Montana which later became its headquarters.

Acquisitions

*DynaMark 1992 *Risk Management Technologies 1997 *Prevision 1997 *Nykamp Consulting Group 2001 *HNC Software 2002 *NAREX 2003 *Diversified Healthcare Services 2003 *Seurat (2003) *London Bridge Software 2004 *Braun Consulting 2004 *RulesPower 2005 *Dash Optimization 2008 *Entiera 2012 *Adeptra 2012 *CR Software 2012 *Infoglide 2013 *InfoCentricity 2014 *Karmasphere 2014 *TONBELLER AG 2015 *QuadMetrics 2016 *GoOn 2018 *EZMCOM 2019

Operations

FICO is headquartered in

and it has additional U.S. locations in

San Jose, California San Jose, officially San José (; ; ), is a major city in the U.S. state of California that is the cultural, financial, and political center of Silicon Valley and largest city in Northern California by both population and area. With a 2020 popul ...

;

Roseville, Minnesota Roseville is a city in Ramsey County, Minnesota, United States. It is one of two Twin Cities suburbs that are adjacent to both Saint Paul and Minneapolis (the other is Lauderdale). The land comprising Falcon Heights, Lauderdale, and southern Ros ...

;

San Diego San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the eighth most populous city in the United States ...

;

San Rafael, California San Rafael ( ; Spanish for " St. Raphael", ) is a city and the county seat of Marin County, California, United States. The city is located in the North Bay region of the San Francisco Bay Area. As of the 2020 U.S. census, the city's populatio ...

;

Fairfax, Virginia The City of Fairfax ( ), colloquially known as Fairfax City, Downtown Fairfax, Old Town Fairfax, Fairfax Courthouse, FFX, or simply Fairfax, is an independent city in the Commonwealth of Virginia in the United States. At the 2010 census the p ...

; and

Austin, Texas Austin is the capital city of the U.S. state of Texas, as well as the county seat, seat and largest city of Travis County, Texas, Travis County, with portions extending into Hays County, Texas, Hays and Williamson County, Texas, Williamson co ...

. The company has international locations in Australia,

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tota ...

, China,

Germany Germany, officially the Federal Republic of Germany (FRG),, is a country in Central Europe. It is the most populous member state of the European Union. Germany lies between the Baltic and North Sea to the north and the Alps to the sou ...

India India, officially the Republic of India ( Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the ...

Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...

, Japan,

Korea Korea ( ko, 한국, or , ) is a peninsular region in East Asia. Since 1945, it has been divided at or near the 38th parallel, with North Korea (Democratic People's Republic of Korea) comprising its northern half and South Korea (Republi ...

, Lithuania,

Poland Poland, officially the Republic of Poland, , is a country in Central Europe. Poland is divided into Voivodeships of Poland, sixteen voivodeships and is the fifth most populous member state of the European Union (EU), with over 38 mill ...

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

, the

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eigh ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring count ...

Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = '' Plus ultra'' ( Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , ...

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the northe ...

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is b ...

Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with ...

and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

FICO score

A measure of credit risk,

s are available through all of the major consumer reporting agencies in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal district, five ma ...

Equifax Equifax Inc. is an American multinational consumer credit reporting agency headquartered in Atlanta, Georgia and is one of the three largest consumer credit reporting agencies, along with Experian and TransUnion (together known as the "Big Thr ...

Experian Experian is an American–Irish multinational data analytics and consumer credit reporting company. Experian collects and aggregates information on over 1 billion people and businesses including 235 million individual U.S. consumers and more ...

, and

TransUnion TransUnion is an American consumer credit reporting agency. TransUnion collects and aggregates information on over one billion individual consumers in over thirty countries including "200 million files profiling nearly every credit-active consume ...

.Credit Reporting Agencies
nbsp;— FICO official Web site FICO scores are also offered in other markets, including

Mexico Mexico ( Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guate ...

and

, as well as through the fourth U.S. credit reporting bureau, PRBC.Fair Isaac and PRBC Team Up to Enhance Credit Risk Tools Used by Mortgage Industry
nbsp;— FICO official Web site

References

External links

*
How Does FICO Calculate a Score?
{{DEFAULTSORT:Fico Business intelligence companies Business software companies Companies listed on the New York Stock Exchange Data mining and machine learning software Data visualization software Financial services companies based in California Companies based in San Jose, California Financial technology companies Multinational companies headquartered in the United States Software companies based in the San Francisco Bay Area Software companies based in Montana American companies established in 1956 Business services companies established in 1956 Financial services companies established in 1956 Computer companies established in 1956 Credit scoring 1956 establishments in California 1980s initial public offerings Software companies of the United States Bozeman, Montana